Examlex
Evolution is best defined as which of the following?
Accounts Payable
Accounts payable is an accounting term for the outstanding bills or debts a company owes to suppliers or vendors for goods or services received.
Operating Cycle
The operating cycle is the amount of time it takes for a company to purchase inventory, sell it to customers, and collect the cash from these sales, reflecting the efficiency of a company's operations.
Accounts Receivable Period
The average number of days that a company takes to collect payments from its credit sales.
Inventory Period
The duration of time it takes for a company to turn its inventory into sales, typically measured in days.
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